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Sail-World.com : Collinson FX Market Commentary: June 11, 2012 - Strong finish to week
Collinson FX Market Commentary: June 11, 2012 - Strong finish to week

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Collinson FX market Commentary: June 11, 2012

Markets finished the week strongly with further gains in equities and risk assets. The poor economic data and the EU crises has spooked markets through May and expectations of monetary and fiscal stimulus has grown. This has sparked confidence although the Fed and the ECB have resisted the temptation.

Markets will be heartened by the news that EU Finance Ministers have agreed to Bailout Spanish Banks to the tune of EUR $100 Billion! The overkill is an attempt to head of fears off panic and a financial market collapse.

The problem is... that the problem is still there and rapidly deteriorating. The answer seems to be to loan more money.

It is incredible that printing more money and extending further credit to already bankrupt nations is supposed to solve the problem. Address the issues, balance the budgets, and stop adding to already critical debt levels.

The single currency has bounced back to trade over 1.2500 but fundamentally this currency is not viable. Commodity demand also gained with confidence which has pushed the corresponding currencies north.

The AUD moved to break 0.9900 and the KIWI breached 0.7700. The EU crises will continue to drive demand from China and in turn commodities. We thus await the European developments focused on Spain and the inevitable contagion.

For more on Collinson FX and market information see:
www.collinsonfx.com and www.collinsonwealthmanagement.com

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Disclaimer: The details expressed in this website and accompanying documents or transmissions are for information purposes only and are not intended as a solicitation for funds or a recommendation to trade. Collinson Forex Ltd accepts no liability whatsoever for any loss or damages suffered through any act or omission taken as a result of reading or interpreting any of the information contained or related to this site.


by Collinson FX

  

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4:15 AM Mon 11 Jun 2012GMT


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